Re:Report on Stablecoins [pdf]
by yellow_postit on Monday November 01, 2021 @10:26PM
(#29076166)
More and more I wonder if there’s a cultural/community aspect to crypto. Humans are meaning and group seeking animals and there is a hard to break value from that relationship. While some are likely ephemeral (hype coins like shiba) the amount of community formed around ETH and BTC is non-trivial and provides something akin to “value”.
[ Parent
| on HN ]
For sure. Bitcoin is in some ways better understood as a religion. If you're interested, I'd suggest the documentary LuLaRich, currently on Amazon Prime Video. It looks at the MLM/pyramid scheme LuLaRoe and does a good job conveying the quasi-religious nature of these things.